BMW to invest another RMB25 billion in Shenyang

Beijing (Gasgoo)- Chairman of BMW Group, Oliver Zipse, announced that the group plans to step up its future investment in Liaoning Province, home-base of its joint venture BMW Brilliance Automotive, according to media outlet Xinhua.

the 4 Serie; photo credit: BMW China

The executive said at a conference that the German automaker will further invest RMB25 billion in Shenyang. Since 2009, the automaker has invested RMB64 billion in Shenyang. During over 18 years in the city, BMW Group had been devoted to implementing its localization strategy and seen great results from the partnership.  

The Shenyang-based joint venture between BMW Group and Brilliance Group, BMW Brilliance Automotive has been the largest tax-payer within the city, creating 21,000 technical posts.

The venture's Shenyang production base is currently the largest one among the BMW Group global production network. In 2020, more than 600,000 BMW vehicles were produced across BMW Brilliance's two plants – Plant Dadong and Plant Tiexi. The Tiexi location is also home to a large-scale R&D center and powertrain plant.

In 2018, BMW Group disclosed that it would pay €3.6 billion ($4.275 billion) in 2022 to increase its stake in BMW Brilliance from 25% to 75%. The extended contract is valid from 2018 to 2040 and is expected to further expand its production capacity in the world's largest auto market.